A spokesman for the toy chain said: ‘There have been many sad moments for Toys R Us in recent weeks, and none more heartbreaking than today’s news about the passing of our beloved founder, Charles Lazarus.

Charles Lazarus, the Toys R Us founder affectionately known by those who loved him as the ‘Toy King’ has died at 94 (Getty)

‘He visited us in New Jersey just last year and we will forever be grateful for his positive energy, passion for the customer and love for children everywhere.